'Budget'

The proposed New Jersey FY 2024 budget allocates $1.152 billion to the Department of Community Affairs (DCA), reflecting a reduction of 19.6% or $280 million from the adjusted appropriation of $1.432 billion in FY 2023. These figures are based on the Governor’s proposal, and may change based on public testimony, changes by the Legislature, and discussions with the Administration before its enactment by the end of June. 

The Division of Local Government Services has issued Local Finance Notice 2023-02 providing specific instruction and direction to municipalities considering holding a public referendum on exceeding the 2% Levy Cap or the 2.5% Appropriation Cap. If your municipality is considering a public referendum, we suggest that you review this Local Finance Notice with your professional staff. 

This week, both the Senate Budget and Appropriations Committee and the Assembly Budget Committee continued to hear testimony from several departments regarding FY2023 funding. Assembly Budget Committee heard from the Department of Transportation, New Jersey Transit, Motor Vehicle Commission, Department of Labor and Workforce Development, and Department of Children and Families. The Senate Budget and Appropriations Committee heard from Higher Educational Services, Department of Health, Department of Law and Public Safety, Department of Labor and Workforce Development, Department of Transportation, New Jersey Transit, Motor Vehicle Commission, and Department of Agriculture.